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RENAULT GROUP Goldman Sachs – Annual Global Automotive Conference

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  • RENAULT GROUP

    Goldman Sachs Annual Global Automotive Conference

  • DECEMBER 2015 2INVESTOR RELATIONSRENAULT PRESENTATION

    Information contained within this document may contain forward looking statements. Although

    the Company considers that such information and statements are based on reasonable

    assumptions taken on the date of this report, due to their nature, they can be risky and uncertain

    (as described in the Renault documentation registered within the French financial markets

    regulation authorities) and can lead to a difference between the exact figures and those given or

    deduced from said information and statements.

    Renault does not undertake to provide updates or revisions, should any new statements and

    information be available, should any new specific events occur or for any other reason. Renault

    makes no representation, declaration or warranty as regards the accuracy, sufficiency,

    adequacy, effectiveness and genuineness of any statements and information contained in this

    report.

    Further information on Renault can be found on Renaults website (www.group.renault.com),

    in the section Finance / Regulated Information.

    DISCLAIMER

  • DECEMBER 2015 3INVESTOR RELATIONSRENAULT PRESENTATION

    2015 OUTLOOK

    The European car market should grow 8% this year, with a French market up 5%. Our main emerging markets should remain adverse and volatile in the fourth quarter.

    Within this context, Renault confirms its guidance:

    -increase registrations and Group revenues (at constant exchange rates),

    -improve Group operating profit and that of the Automotive division,

    -achieve positive Automotive operational free cash flow.

  • DECEMBER 2015 4INVESTOR RELATIONSRENAULT PRESENTATION

    KEY TAKE-AWAYS FROM Q3 RESULTS

    RECOVERY IN EUROPE GAINS TRACTION

    EMERGING MARKETS AND CURRENCIES STILL ADVERSE & VOLATILE

    SUCCESS OF OUR NEW PRODUCTS WITH POSITIVE MIX IMPACT

    STILL STRONG CONTRIBUTION OF SALES TO PARTNERS

    FY GUIDANCE CONFIRMED

  • DECEMBER 2015 5INVESTOR RELATIONSRENAULT PRESENTATION

    RISKS & OPPORTUNITIES FOR THE SECOND HALF

    REGULATORY COST PRESSURE

    EMERGING MARKETS

    SUPPLY CHAIN

    NEW PRODUCTS

    EUROPEAN MARKET MOMENTUM

  • DECEMBER 2015 6INVESTOR RELATIONSRENAULT PRESENTATION

    YTD 2015 COMMERCIAL UPDATE

    01

  • DECEMBER 2015 7INVESTOR RELATIONSRENAULT PRESENTATION

    613

    318

    88 75102

    30

    621

    339

    87 72 9727

    Q3'14 Q3'15 Q3'14 Q3'15 Q3'14 Q3'15 Q3'14 Q3'15 Q3'14 Q3'15 Q3'14 Q3'15

    RENAULT GROUP UNIT REGISTRATIONS Q3 2015 VS Q3 2014

    GLOBAL

    +1.2%

    EUROPE

    +6.5%

    AMERICAS

    -5.3%

    ASIA-PACIFIC

    -11.2%

    AFRICA-ME-INDIA

    -4.8%

    EURASIA

    -1.2%

    K units

    (PC+LCV)

    WORLD MARKET SHARE: 3.01% (+0.04 pts)

    -0.2% TIV +9.8% -13.9% -6.6% -12.5% -2.3%

    GROUP

  • DECEMBER 2015 8INVESTOR RELATIONSRENAULT PRESENTATION

    1,979

    1,094

    265 225308

    87

    1,998

    1,188

    246 223 26180

    09'14 09'15 09'14 09'15 09'14 09'15 09'14 09'15 09'14 09'15 09'14 09'15

    RENAULT GROUP UNIT REGISTRATIONS SEPT 2015 (YTD) VS SEPT 2014 (YTD)

    GLOBAL

    +0.9%

    EUROPE

    +8.5%

    AMERICAS

    -15.3%

    ASIA-PACIFIC

    -7.5%

    AFRICA-ME-INDIA

    -1.0%

    EURASIA

    -7.2%

    K units

    (PC+LCV) WORLD MARKET SHARE: 3.12% (=)

    +0.7% TIV +9.0% -18.4% -0.6% -11.1% -0.5%

    GROUP

  • DECEMBER 2015 9INVESTOR RELATIONSRENAULT PRESENTATION

    FRANCE01

    BRAZIL02

    03

    ITALY

    TURKEY04

    SOUTH KOREA

    05

    06

    07

    08

    09

    SPAIN

    10

    24.4%

    4.7%

    7.4%

    17.1%

    GERMANY

    8.1%

    12.9%

    ARGENTINA 14.6%

    4.5%

    RUSSIA 7.4%

    M/S

    (PC+LCV)

    EUROPE KEEPS PUSHING SALES MOMENTUM Q3 2015

    -1.4 pts

    +0.5 pts

    +2.6 pts

    -1.0 pts

    VS.

    Q3 2014

    UK 4.3%

    +1.1 pts

    -0.2 pts

    -0.5 pts

    +0.3 pts

    -1.0 pts

    +0.2 pts

    REGIONAL SALES BREAKDOWN

    36% 42%48%

    55% 52% 48%

    Q3 2010 Q3 2011 Q3 2012 Q3 2013 Q3 2014 Q3 2015

    42% 48% 52% 48% 45%55%

    58% 52% 45% 48% 52% 55%

    INTERNATIONALEUROPE

  • DECEMBER 2015 10INVESTOR RELATIONSRENAULT PRESENTATION

    EUROPE REGION GROUP ORDER BOOK PC+LCV

    sept.-07 sept.-08 sept.-09 sept.-10 sept.-11 sept.-12 sep t.-13 sept.-14 sept.-15

  • DECEMBER 2015 11INVESTOR RELATIONSRENAULT PRESENTATION

    Q3 2015 REVENUES

    02

  • DECEMBER 2015 12INVESTOR RELATIONSRENAULT PRESENTATION

    RENAULT GROUP REVENUES BY DIVISION IN Q3 2015

    In million euros Q3 2015 Change (%)Q3 2014

    Automotive

    Sales Financing

    TOTAL

    8,802

    534

    9,336

    +10.2%

    -2.2%

    +9.4%

    7,984

    546

    8,530

  • DECEMBER 2015 13INVESTOR RELATIONSRENAULT PRESENTATION

    RENAULT GROUP REVENUES BY DIVISION 2015 9 months

    In million euros

    2015YTD

    Change(%)

    2014YTD

    Automotive

    Sales Financing

    TOTAL

    29,867

    1,666

    31,533

    +11.8%

    +2.4%

    +11.2%

    26,723

    1,627

    28,350

  • DECEMBER 2015 14INVESTOR RELATIONSRENAULT PRESENTATION

    AUTOMOTIVE REVENUE VARIANCE ANALYSIS

    7,984

    8,802

    -173

    +45 -45 +184

    +178

    +413+216

    Currency

    Volume

    Geographicmix

    Product mix

    Price

    Sales to partners Others

    +10.2%

    -2.2 pts+0.6 pts -0.6 pts +2.3 pts +2.3 pts +5.2 pts +2.6 pts

    In million euros CHANGE Q3 2015 / Q3 2014 : +818m

    Q3 2014 Q3 2015

  • DECEMBER 2015 15INVESTOR RELATIONSRENAULT PRESENTATION

    AUTOMOTIVE REVENUE VARIANCE ANALYSIS

    26,723

    29,867

    +52

    +660 -91+329

    +486+1,525

    +183

    Currency

    Volume

    Geographicmix

    Product mix

    Price

    Sales to partners Others

    +11.8%

    +0.2 pts+2.5 pts -0.3 pts +1.2 pts +1.8 pts +5.7 pts +0.7 pts

    In million euros CHANGE 2015 / 2014 : +3,144m

    Q3 2014YTD

    Q3 2015YTD

  • DECEMBER 2015 16INVESTOR RELATIONSRENAULT PRESENTATION

    DISTRIBUTION STOCK

    NEW VEHICLE DISTRIBUTION STOCK (IN K UNITS)

    503 488 527 495 493 459 515 510 503

    243

    100

    255

    158253

    106

    251177

    260260

    388

    272337

    240

    353

    264

    333

    243

    SEP'13 DEC'13 MAR'14 JUN'14 SEP'14 DEC'14 MAR'15 JUN'15 SEP '15

    GROUP

    INDEPENDENTDEALERS

    TOTAL

    Number of days of sales

    (previous period)

    75 7663 62 74 57 74 64 75

  • DECEMBER 2015 17INVESTOR RELATIONSRENAULT PRESENTATION

    RCI BANQUE PERFORMANCE

    Q3 2015 Change (%)Q3 2014

    Revenues (in m)

    Average loans outstanding

    (in bn)

    New contracts (in thousand units)

    New financing(in bn)

    534

    28.8

    348

    3.8

    546

    25.6

    302

    3.2

    -2.2%

    +12.8%

    +15.2%

    +21.9%

  • DECEMBER 2015 18INVESTOR RELATIONSRENAULT PRESENTATION

    RCI BANQUE PERFORMANCE YTD

    Q3 2015YTD

    Change(%)

    Q3 2014YTD

    Revenues (in m)

    Average loans outstanding

    (in bn)

    New contracts (in thousand units)

    New financing(in bn)

    1,666

    27.9

    1,034

    11.6

    1,627

    25.1

    902

    9.2

    +2.4%

    +10.9%

    +14.7%

    +26.7%

  • DECEMBER 2015 19INVESTOR RELATIONSRENAULT PRESENTATION

    H1 2015 FINANCIAL RESULTS

    03

  • DECEMBER 2015 20INVESTOR RELATIONSRENAULT PRESENTATION

    H1 2014 H1 2015 CHANGE

    Global registrations (units) 1,365,988 1,376,356 +0.8%

    Group revenues 19,820 22,197 +12.0%

    of which: Automotive 18,739 21,065 +12.4%

    Sales financing 1,081 1,132 +4.7%

    Q1 Q2

    +13.7% +10.8%

    H1 2015 GROUP REVENUES

    (million euros)

  • DECEMBER 2015 21INVESTOR RELATIONSRENAULT PRESENTATION

    AUTOMOTIVE REVENUES VARIANCE ANALYSIS

    18,739

    21,065

    +615 -46

    +145+308

    +1,112

    +225

    -33

    Currency

    Volume

    Geographic

    mix

    Product mix

    Sales to

    partners

    Others

    +12.4%

    +3.3pts -0.2pts +0.8pts +1.6pts +1.2pts -0.2pts

    Price

    +5.9pts

    CHANGE H1 2015 / H1 2014: +2,326m

    H1 2014 H1 2015

    (million euros)

  • DECEMBER 2015 22INVESTOR RELATIONSRENAULT PRESENTATION

    729

    1,069

    +236 -17

    +28

    -283 +263

    +1

    +112

    GROUP OPERATING MARGIN VARIANCE ANALYSIS

    Currency

    Volume &

    partners

    Mix / Net Enrichment

    G&A

    RCI &

    Other

    activities

    COST REDUCTION

    +219m

    H1 2014 H1 2015(million euros)

    CHANGE H1 2015 / H1 2014: +340m

    Monozukuri

    Raw materials

    GROWTH

    +264m

  • DECEMBER 2015 23INVESTOR RELATIONSRENAULT PRESENTATION

    DISTRIBUTION STOCK

    NEW VEHICLE DISTRIBUTION STOCK (IN K UNITS)

    445 481507 503 488 527 495 493 459 515

    510

    131

    241140

    243

    100

    255

    158

    253

    106

    251177

    314240

    367

    260

    388

    272337

    240

    353264

    333

    DEC'12 MAR'13 JUN'13 SEP'13 DEC'13 MAR'14 JUN'14 SEP'14 DEC '14 MAR'15 JUN'15

    GROUP

    INDEPENDENTDEALERS

    TOTAL

    Number of days of sales

    (previous period)

    65 6772 75 7663 62 74 57 74 64

  • DECEMBER 2015 24INVESTOR RELATIONSRENAULT PRESENTATION

    -369

    +267

    -591

    -118

    AUTOMOTIVE NET CASH POSITION

    Operational

    free cash flow

    Cash flow

    +1,727

    Change

    in WCR

    Dividends

    paid

    Net tangible

    & intangible

    investments

    - 1,453 Net cash

    decrease

    Dividends

    received

    from

    listed co.

    -123

    Leased

    Vehicles

    -431

    Capitalized

    R&D

    Financial

    investments

    & others

    -899

    Net capex

    DEC. 31, 2014: 2,104m

    JUNE 30, 2015: 1,567m

    -95

    -537

    (million euros)

  • DECEMBER 2015 25INVESTOR RELATIONSRENAULT PRESENTATION

    H1 2014 H1 2015 CHANGE

    Revenues 19,820 22,197 +12.0%

    Operating margin +729 +1,069 +340

    in % of revenues +3.7% +4.8% +1.1 pts

    Other operating income & expenses -265 -116 +149

    EBIT +464 +953 +489

    Net financial income & expenses -124 -161 -37

    Associated companies +725 +912 +187

    Current & deferred taxes -264 -235 +29

    Net income +801 +1,469 +668

    (million euros)

    H1 2015 FINANCIAL RESULTS

  • DECEMBER 2015 26INVESTOR RELATIONSRENAULT PRESENTATION

    OPERATING MARGIN BY ACTIVITY

    H1 2014 H1 2015 CHANGE

    AUTOMOTIVE +348 +656 +308

    % Automotive revenues +1.9% +3.1% +1.3 pts

    SALES FINANCING +381 +413 +32

    GROUP OPERATING MARGIN +729 +1,069 +340

    % Group revenues +3.7% +4.8% +1.1 pts

    (million euros)

  • DECEMBER 2015 27INVESTOR RELATIONSRENAULT PRESENTATION

    RCI BANQUE

    in % of average loans outstandingH1 2014 H1 2015

    New financings (bn) 6.0 7.7

    Average performing loans outstanding (bn) 24.8 27.6

    Net banking income* 5.14% 4.93%

    Cost of risk* (customer & dealer) -0.47% -0.31%

    Operating expenses* -1.58% -1.54%

    Pretax income* 2.92% 3.08%

    (* in percentage of average performing loans outstanding)

  • DECEMBER 2015 28INVESTOR RELATIONSRENAULT PRESENTATION

    OTHER OPERATING INCOME & EXPENSES

    H1 2014 H1 2015

    Net restructuring costs

    (incl. competitiveness agreement in France)-152 -106

    Impairment of assets / reversal -135 -11

    Profit / loss on asset sales +30 +6

    Others -8 -5

    TOTAL OTHER OPERATING INCOME & EXPENSES -265 -116

    (million euros)

  • DECEMBER 2015 29INVESTOR RELATIONSRENAULT PRESENTATION

    ASSOCIATED COMPANIES

    H1 2014 H1 2015 CHANGE

    Nissan +789 +979 +190

    AVTOVAZ (1) -55 -70 -15

    Others -9 +3 +12

    TOTAL ASSOCIATED COMPANIES +725 +912 +187

    (1) AVTOVAZ is consolidated with a 3-month time lag

    Q1 Q2

    494 485

    (million euros)

  • DECEMBER 2015 30INVESTOR RELATIONSRENAULT PRESENTATION

    LIQUIDITY RESERVES

    Cash = 11.6bn

    Available credit lines = 3.2bn

    TOTAL = 14.8bn

    LIQUIDITY RESERVES

    Cash = 10.2bn

    Available credit lines = 3.3bn

    TOTAL = 13.5bn

    AUTOMOTIVE DIVISION LIQUIDITY

    DECEMBER 2014 JUNE 2015

  • DECEMBER 2015 31INVESTOR RELATIONSRENAULT PRESENTATION

    RCI LIQUIDITY*

    LIQUIDITY RESERVES

    Cash = 0.1bn

    HQLA = 0.9bn

    ECB eligible = 1.9bn

    Available credit lines = 4.0bn

    TOTAL = 6.9bn

    LIQUIDITY RESERVES

    Cash = 0.1bn

    HQLA = 0.8bn

    ECB eligible = 1.8bn

    Available credit lines = 4.1bn

    TOTAL = 6.8bn

    DECEMBER 2014 JUNE 2015

    *Central funding perimeter

  • DECEMBER 2015 32INVESTOR RELATIONSRENAULT PRESENTATION

    RCI BANQUE RETAIL DEPOSIT ACTIVITY

    Dec. 2014 June 2015

    DEPOSITS 6.5 7.0

    o/w GERMANY 4.4 5.1

    o/w FRANCE 1.8 1.4

    o/w AUSTRIA 0.4 0.5

    o/w UNITED KINGDOM N/A 0.04

    2016 TARGET: 30% OF RCI BANQUE OUTSTANDINGS

    (billion euros)

  • DECEMBER 2015 33INVESTOR RELATIONSRENAULT PRESENTATION

    DRIVE THE CHANGE

    How to get to our targets

    03

  • DECEMBER 2015 34INVESTOR RELATIONSRENAULT PRESENTATION

    Kadjar

    2015

    RENEWING OUR RANGE

    OUR MAIN REVENUES OPPORTUNITIES

    New Espace C-hatchD-sedan C-MPV

    Pick-up 1TPick-up 0,5T

    D-crossoverCaptur

    2015

    2015

    2015

    2015

    New Twingo

    A-entry

    2014

    2014

    LCV international roll out

    Full cross-over line up for all our markets

    A-entry vehicles for emerging countries

    New Twingo for Europe

    C & D complete renewal

  • DECEMBER 2015 35INVESTOR RELATIONSRENAULT PRESENTATION

    A NEW STEP TOWARDS OUR MID-TERM PLAN TARGETS

    RENAULT ESPACE

  • DECEMBER 2015 36INVESTOR RELATIONSRENAULT PRESENTATION

    A NEW STEP TOWARDS OUR MID-TERM PLAN TARGETS

    RENAULT KADJAR

    KADJAR

  • DECEMBER 2015 37INVESTOR RELATIONSRENAULT PRESENTATION

    A NEW STEP TOWARDS OUR MID-TERM PLAN TARGETS

    RENAULT KWID

    KADJAR

  • DECEMBER 2015 38INVESTOR RELATIONSRENAULT PRESENTATION

    A NEW STEP TOWARDS OUR MID-TERM PLAN TARGETS

    RENAULT OROCH

  • DECEMBER 2015 39INVESTOR RELATIONSRENAULT PRESENTATION

    A NEW STEP TOWARDS OUR MID-TERM PLAN TARGETS

    RENAULT TALISMAN

    KADJAR

  • DECEMBER 2015 40INVESTOR RELATIONSRENAULT PRESENTATION

    A NEW STEP TOWARDS OUR MID-TERM PLAN TARGETS

    RENAULT TALISMAN ESTATE

  • DECEMBER 2015 41INVESTOR RELATIONSRENAULT PRESENTATION

    A NEW STEP TOWARDS OUR MID-TERM PLAN TARGETS

    RENAULT ALASKAN REVEAL

  • DECEMBER 2015 42INVESTOR RELATIONSRENAULT PRESENTATION

    A NEW STEP TOWARDS OUR MID-TERM PLAN TARGETS

    RENAULT MEGANE REVEAL

  • DECEMBER 2015 43INVESTOR RELATIONSRENAULT PRESENTATION

    65%33%

    Millions units per platforms > 2016

    CM

    F C

    -D

    CM

    F B

    Source : VAG,Hyundai,Toyota : IHS / R&N : Alliance plan

    2013 > 2016

    SHARED PLATFORMS MODULAR APPROACH

    80% of future launches 2/3 of value of upcoming vehicles

    from standardized modules

    0

    1

    2

    3

    4

    5

    CMF C

    -D

    CMF B

    DEVELOPING OUR SCALE AND COMPETITIVENESS

  • DECEMBER 2015 44INVESTOR RELATIONSRENAULT PRESENTATION

    SOURCING OPTIMIZATION INDUSTRIAL CAPACITIES

    Local integration rate*> 80 % in 4 major countries

    Utilization rate in Europe > 100%

    2011 > 2016

    Renault for Renault

    Renault for Partners

    Renault capacity (2 shifts/day)

    Alliance for Renault

    >2016

    2013

    2010

    China

    Russia

    India

    Brazil

    (*) including powertrain group

    Production

    5%

    17%

    REDUCING COST OF VEHICULES

  • DECEMBER 2015 45INVESTOR RELATIONSRENAULT PRESENTATION

    2009 2010 2011 2012 2013 2014 2016e

    Renault Nissan

    > 4.3bn

    ALLIANCE SYNERGIES

    3.8bn*

    (*) estimated

    ACCELERATING ALLIANCE SYNERGIES

    4 KEY-FUNCTIONS CONVERGENCE

    PURCHASING UPSTREAM ENGINEERING

    HUMANRESOURCES

    MANUFACTURING& LOGISTICS

  • DECEMBER 2015 46INVESTOR RELATIONSRENAULT PRESENTATION

    CAPEX AND R&D CAPPED at 9%

    2008 2009 2010 2011 2012 2013 20142015

    H1

    2015-

    2016e

    NET CAPEX 5.6 % 4.4 % 2.5 % 3.1% 4.3 % 3.8 % 3.4% 3.6%

    NET R&D 5.5 % 4.5 % 4.0 % 3.8% 3.8 % 3.7 % 4.0% 4.4%

    TOTAL 11.1 % 8.9 % 6.5 % 7.0% 8.1% 7.5% 7.4% 8.0% < 9%

    % OF GROUP REVENUES

    ALLIANCE BENEFITS TO RENAULT: R&D AND CAPEX

  • INVESTOR RELATIONSRENAULT PRESENTATION DECEMBER 2015 47

    A LEADER IN CO2 EMISSION REDUCTION

  • DECEMBER 2015 48INVESTOR RELATIONSRENAULT PRESENTATION

    PREPARING FOR THE FUTURE

    EOLAB

  • DECEMBER 2015 49INVESTOR RELATIONSRENAULT PRESENTATION

    OPERATING MARGIN IMPROVEMENT

    3.0 %

    > 5 %

    VolumeCostreduction

    Enrichment Net

    Raw material

    ProvisionFOREX

    FY2013 > FY2016

  • DECEMBER 2015 50INVESTOR RELATIONSRENAULT PRESENTATION

    2015 H1: A ROBUST MILESTONE FOR OUR MID-TERM PLAN

    MARGIN IMPROVEMENT

    1,9%

    3,0%

    3,9%

    4,8%

    0,1%

    1,3%

    2,2%

    3,1%

    2012 restated 2013 2014 2015 H1

    GROUP OPERATING MARGIN

    AUTOMOTIVE OPERATING MARGIN

    > 5% in 2017*

    * target

  • INVESTOR RELATIONSRENAULT PRESENTATION DECEMBER 2015 51

    DIVIDEND POLICY

    0,00

    0,30

    1,16

    1,72 1,721,90

    2009 2010 2011 2012 2013 2014

    DIVIDENDS PAID IN PER SHARES

    First phase of the plan, dividend paid based on dividends received from shareholdings in listed companies, with a one-year time lag.

    The purpose of that policy was to raise the profile of the dividend while achieving the debt reduction target.

    For the second phase of the plan, pay-out policy independent of the dividends received on holdings in listed companies.

    Aim of this policy : offer returns at least equivalent to the average of European automakers .

    The dividend will be paid on May 15 (or the following working day).

  • DECEMBER 2015 52INVESTOR RELATIONSRENAULT PRESENTATION

    NEW FRONTIERS: CHINA

    2013 2014 2015 2016 2017 2018 2019

    Industrial projectSignature New plant 150,000 veh./year

    C crossover

    D crossover

    Vehicle in study

    WITH OUR PARTNERS

    2nd step

  • DECEMBER 2015 53INVESTOR RELATIONSRENAULT PRESENTATION

    PREPARING FOR THE FUTURE

    WUHAN PLANT

  • DECEMBER 2015 54INVESTOR RELATIONSRENAULT PRESENTATION

    FY 2014 FINANCIAL RESULTS

    03

  • DECEMBER 2015 55INVESTOR RELATIONSRENAULT PRESENTATION

    AUTOMOTIVE REVENUES VARIANCE ANALYSIS

    38,775 38,874

    -1,150

    -327 +64-33

    +311

    +1,248

    -14

    Currency

    Volume

    Geographic

    mix

    Mix

    Sales to

    partners

    Others

    +0.3%

    -3.0pts -0.8pts +0.2pts -0.1pts +3.2pts 0.0pts

    Price

    +0.8pts

    CHANGE 2014 vs 2013: +99m

    FY 2013 FY 2014

    (million euros)

  • DECEMBER 2015 56INVESTOR RELATIONSRENAULT PRESENTATION

    OPERATING PROFIT BY ACTIVITY

    FY 2013 FY 2014 CHANGE

    AUTOMOTIVE 495 858 +363

    % Automotive revenues 1.3% 2.2% +0.9pts

    SALES FINANCING 747 751 +4

    GROUP OPERATING PROFIT 1,242 1,609 +367

    % Group revenues 3.0% 3.9% +0.9pts

    (million euros)

  • DECEMBER 2015 57INVESTOR RELATIONSRENAULT PRESENTATION

    1,2421,609

    +778

    +66+134

    -226+121

    -35-471

    GROUP OPERATING PROFIT VARIANCE ANALYSIS

    Currency

    Volume &

    partners

    Mix / Net Enrichment

    G&A

    RCI Banque

    &

    other activities

    COST REDUCTION

    844m

    FY 2013 FY 2014

    CHANGE 2014 vs 2013: +367m

    Monozukuri

    Raw materials

    GROWTH

    86m

    (million euros)

  • DECEMBER 2015 58INVESTOR RELATIONSRENAULT PRESENTATION

    CONTINUING COST REDUCTION

    COST REDUCTION CONTRIBUTION TO OPERATING PROFIT IMPROVEMENT

    + 430

    -107

    + 397

    + 58+ 66

    Purchasing Warranty Manufacturing& Logistic

    R&D G&A

    +844mvs 2013

  • DECEMBER 2015 59INVESTOR RELATIONSRENAULT PRESENTATION

    OTHER OPERATING INCOME & EXPENSES

    FY 2013 FY 2014

    Net restructuring costs

    (incl. competitiveness agreement in France)-423 -305

    Impairment of assets / reversal -488 -153

    RCI Banque (mainly change in regulation) - -50

    Profit / loss on asset sales +153 +7

    Others -518 -3

    Total other operating income & expenses -1,276 -504

    (million euros)

  • DECEMBER 2015 60INVESTOR RELATIONSRENAULT PRESENTATION

    ASSOCIATED COMPANIES

    FY 2013 FY 2014 CHANGE

    Nissan 1,498 1,559 +61

    AVTOVAZ (1) -34 -182 -148

    Others -20 -15 +5

    Total associated companies 1,444 1,362 -82

    (1) AVTOVAZ is consolidated with a 3-month time lag . Adjustments have been made to take into account significant transactions and accounting entries that occurred between September 30, 2014 and December 31, 2014.

    (million euros)

  • DECEMBER 2015 61INVESTOR RELATIONSRENAULT PRESENTATION

    FY 2014 FINANCIAL RESULTS

    FY 2013 FY 2014 CHANGE

    Revenues 40,932 41,055 +0.3%

    Operating profit 1,242 1,609 +367

    in % of revenues 3.0% 3.9% +0.9pts

    Other operating income & expenses -1,276 -504 +772

    EBIT -34 1,105 +1,139

    Net financial income & expenses -282 -333 -51

    Associated companies 1,444 1,362 -82

    Current & deferred taxes -433 -136 +297

    Net income 695 1,998 +1,303

    (million euros)

  • DECEMBER 2015 62INVESTOR RELATIONSRENAULT PRESENTATION

    3,138

    1,083

    343

    +596

    +463 -542

    -661

    AUTOMOTIVE NET CASH POSITION

    Operational free

    cash flow

    Cash flow

    Changein WCR

    Dividendspaid

    Net tangible& intangible

    investments

    -2,651

    Net changeIn cash

    Dividends receivedfrom

    listed co.

    Capitalized

    R&D

    -845 Financial investments & others

    Net capex

    -1,571

    DEC 31, 2013 : 1,761m

    DEC 31, 2014 : 2,104m

    (million euros)

    LeasedVehicles -235

  • DECEMBER 2015 63INVESTOR RELATIONSRENAULT PRESENTATION

    LIQUIDITY RESERVES

    Cash = 10.7bn

    Available credit lines = 3.4bn

    TOTAL = 14.1bn

    LIQUIDITY RESERVES

    Cash = 11.6bn

    Available credit lines = 3.2bn

    TOTAL = 14.8bn

    AUTOMOTIVE DIVISION LIQUIDITY

    DECEMBER 2013 DECEMBER 2014

  • DECEMBER 2015 64INVESTOR RELATIONSRENAULT PRESENTATION

    FUNDING & LIQUIDITY PROFILE

    RSA total funding : 7.6 billions In million euros at December 31, 2014

    Bonds, Banks & assimilated (in millions euros *)

    Liquidity reserve: - Available back-up lines : 3.2 billions - Cash & cash equivalents: 11.6 billions

    Automobile Division

    * fx rates as of 12/31/14

  • DECEMBER 2015 65INVESTOR RELATIONSRENAULT PRESENTATION

    RCI BANQUE

    (in percentage of average loans outstanding)

    2013 2014

    New financings (bn) 11.4 12.6

    Average loans outstanding (bn) 24.2 25.4

    Net banking income* 5.04% 4.98%

    Cost of risk (customer & dealer) -0.42% -0.43%

    Operating expenses* -1.56% -1.58%

    Pretax income* 3.07% 2.95%

    Operating profit (m) 747 751

    * Excluding non recurring items

  • DECEMBER 2015 66INVESTOR RELATIONSRENAULT PRESENTATION

    End 2013 End 2014

    DEPOSITS 4,33 6,53

    o/w GERMANY 3,05 4,38

    o/w FRANCE 1,28 1,78

    o/w AUSTRIA - 0,37

    RCI BANQUE RETAIL DEPOSIT ACTIVITY

    2016 TARGET: 30% OF RCI BANQUE OUTSTANDINGS

    (billion euros)

  • DECEMBER 2015 67INVESTOR RELATIONSRENAULT PRESENTATION

    04RENAULT IN BRIEF

  • INVESTOR RELATIONSRENAULT PRESENTATION DECEMBER 2015 68

    RENAULT IN BRIEF

    Renault was founded in 1898 and is listed on the Paris NYSE Euronext since 1995

    Renault created an Alliance with Nissan in 1999

    Renault has strategic cooperation with Daimler

    Market capitalization of 17.9bn as of Dec 2014 (21.9bn as of Aug 2015)

    Renault employs 117,395 employees worldwide

    2,712,432 vehicles sold worldwide in 2014

    The Renault brand is ranked # 3 in Europe

    The company is a bond issuer via two entities:

    Renault, rated BBB- by S&P (stable outlook)/BBB-(stable outlook) by Fitch / Ba1 (positive outlook) by Moodys

    RCI Banque, its financing arm, rated Baa1 (stable outlook) by Moodys / BBB (negative outlook) by S&P

    OWNERSHIP OF CAPITAL AT END 2014

    Treasury stock 2

    0.86%Employees

    2,97%

    Nissan 1

    15.00%

    French State15.01%

    Public63.05%

    1 Nissan does not exercise the voting rights attached to these shares2 Shares acquired for the purposes of stock option programs. These shares have

    no voting rights attached3 A strategic cooperation between the Renault-Nissan Alliance and Daimler AG was

    announced in April 2010;

    Total share capital 1,127mm

    Total number of shares 295,722,284

    Daimler 3

    3.10%

    Source: Renault SA

  • INVESTOR RELATIONSRENAULT PRESENTATION DECEMBER 2015 69

    GROUP STRUCTURE

    RCIBANQUE

    RENAULTSAMSUNGMOTORS

    AvtoVAZ

    OTHER COMPANIESindustrial, commercial,

    refinancing and cash management concerns

    RENAULT S.A.S.

    DACIA

    NISSAN MOTOR

    RENAULT SA

    100 %

    43.4 %

    99.4 %

    1.55 %

    100 % 80.1 %37,25%

    DAIMLER AG

    Renault GroupAlliance and Cooperation

  • INVESTOR RELATIONSRENAULT PRESENTATION DECEMBER 2015 70

    A MAJOR ALLIANCE IN THE AUTOMOTIVE LANDSCAPE

    52 5254

    56 56 5657

    6163

    6568

    6563

    71

    75

    7982

    85

    51

    1996

    1997

    1998

    1999

    2000

    2001

    2002

    2003

    2004

    2005

    2006

    2007

    2008

    2009

    2010

    2011

    2012

    2013

    2014

    10,1 9,9 9,98,5

    7,7

    6,35,3

    4,6 4,4

    2,9 2,7

    0,0

    1,0

    2,0

    3,0

    4,0

    5,0

    6,0

    7,0

    8,0

    9,0

    10,0

    11,0

    TOYOTA

    VW-Porsche

    GM-Wulinng

    ALLIANCE

    HYUNDAI

    FORD

    NISSAN

    FIAT-CHYSLER

    HONDA

    PSA

    RENAULT

    RenaultNissanAvotvaz

    8,470 million units sold in 2014

    TIV (PC+LCV) IN MILLION UNITS

    MAIN CARS SALES IN 2014 (PC+LCV) IN MILLION UNITS

    448 5%

    5 310 63%

    2 712 32%

  • INVESTOR RELATIONSRENAULT PRESENTATION DECEMBER 2015 71

    62%12%

    11%

    11%4%

    Sales by Region

    Europe

    Americas

    Africa - ME

    -India

    Eurasia

    Asia-Pacific

    RENAULT SALES IN H1 2015

    76%

    21%

    3%

    Sales by brand

    Renault

    Dacia

    RSM

    4%

    27%

    40%

    14%

    3%

    12%

    Sales by segment

    A B

    MO C

    D/E LCV

    MAIN CARS SALES IN H1 2015 (PC+LCV) IN KUNITS

    237

    171 168 147 145 12876 54 47

    0

    100

    200

    300

    400

    500

    CLIO - B

    seg

    SANDERO - M

    O

    DUSTER - M

    O

    MEGANE/SCENIC - C

    SEG

    LOGAN - M

    O

    CAPTUR - B

    SEG

    KANGOO - L

    CV

    TWINGO - A

    SEG

    MASTER - L

    CV

  • INVESTOR RELATIONSRENAULT PRESENTATION DECEMBER 2015 72

    HEADCOUNT EVOLUTION

    74 73 71 70 70 68 63 60 55 54 55 50 49 46

    2624 24

    22 20 2018 17 20

    3531 31 28 33 35 43 45

    44 49 53 56 56 5128 24

    23 26 24

    0

    20

    40

    60

    80

    100

    120

    140

    2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

    France EUROPE Outside Europe

    129 130 129121 123

    128

    Headcount excluding early retirement schemes

    137

    128 125 127 127117

    124 122

  • INVESTOR RELATIONSRENAULT PRESENTATION DECEMBER 2015 73

    INTERNATIONAL SALES EXPANSION

    11%

    17% 17% 17%19%

    23%27%

    30%

    35%37%

    34%37%

    43%

    50% 50%

    46%

    1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

    % OF UNIT SALES OUTSIDE EUROPE

  • INVESTOR RELATIONSRENAULT PRESENTATION DECEMBER 2015 74

    ENTRY PROGRAM SALES EVOLUTION OVER 1M UNITS IN 2014

    23145

    248367

    510 535687

    814954

    1 084 1 142

    2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

    IN K UNITS

  • INVESTOR RELATIONSRENAULT PRESENTATION DECEMBER 2015 75

    M0 PLATFORM : THE RIGHT TOOL FOR INTERNATIONAL EXPANSION

    % OF INTERNATIONAL SALES UPON M0 PLATFORM

    63%

    37%

    MO Others

  • INVESTOR RELATIONSRENAULT PRESENTATION DECEMBER 2015 76

    ENTRY PROGRAM RECIPE FOR SUCCESS

    Two different business models:

    Dacia Brand in Europe and Euromed(45% of the sales)

    Renault Brand for International development (55% of the sales)

    The right level of vehicle content

    Adjusted for the different markets

    High carry-over to minimize investment

    Seven bodies on the same platform

    Localization

    NEW LOGAN

    DUSTER

  • INVESTOR RELATIONSRENAULT PRESENTATION DECEMBER 2015 77

    RENAULT RANGE

  • INVESTOR RELATIONSRENAULT PRESENTATION DECEMBER 2015 78

    RENAULT RANGE

  • INVESTOR RELATIONSRENAULT PRESENTATION DECEMBER 2015 79

    DACIA & RSM RANGE

  • INVESTOR RELATIONSRENAULT PRESENTATION DECEMBER 2015 80

    P&L STATEMENT SINCE 2000

    * with Renault VI

    PUBLISHED

    2000* 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014in K units

    Registration 2 289 2 409 2 404 2 389 2 489 2 533 2 433 2 484 2 382 2 309 2 626 2 722 2 550 2 628 2 712production 2 348 2 375 2 344 2 385 2 472 2 516 2 385 2 659 2 421 2 199 2 599 2 637 2 725 2 520 2 574

    in m

    Revenues 40 175 36 351 36 336 37 525 40 715 41 338 41 528 40 682 37 791 33 712 38 971 42 628 41 270 40 932 41 055o/w Automotive 31 486 33 841 34 456 35 535 38 645 39 458 39 605 38 679 35 757 31 951 37 172 40 679 39 156 38 775 38 874

    o/w sales financing 1 656 1 828 1 880 1 990 2 070 1 880 1 923 2 003 2 034 1 761 1 799 1 949 2 114 2 157 2 181Cost of goods and services sold -30 214 -28 240 -28 17 8 -29 273 -31 162 -32 137 -32 499 -31 408 -29 659 -26 978 -30 620 -33 848 -33 017 -33 611 -33 310

    o/w Research and development expenses -2 048 -1 935 -1 143 -1 243 -1 383 -2 034 -1 963 -1 850 -1 858 -1 795 -1 834 -2 017 -1 915 -1 812 -1 721o/w SG&A -4 838 -4 538 -4 363 -4 452 -4 581 -4 918 -5 018 -4 949 -4 770 -4 382 -4 605 -4 751 -4 534 -4 267 -4 415

    Operating margin 2 022 473 1 483 1 402 2 418 1 323 1 063 1 354 212 -396 1 099 1 091 729 1 242 1 609o/w Automotive 1 574 216 1 189 1 035 1 974 858 571 882 -275 -902 396 330 -25 495 858

    o/w sales financing 253 252 294 367 444 465 492 472 487 506 703 761 754 747 751Other operating income and expenses -319 231 -266 -168 -270 191 -186 -116 -329 -559 -464 153 -607 -1 276 -504Operating income 1 703 704 1 217 1 234 2 148 1 514 877 1 23 8 -117 -955 635 1 244 122 -34 1 105Financial expense -69 -64 -91 -71 -348 -327 61 76 441 -404 -37 6 -121 -266 -282 -333Capital gain on sale of shares in Volvo AB 2 000 924Share in net income of companies accounted for by the equity method

    89 380 1 331 1 860 2 020 2 597 2 260 1 675 437 -1 561 1 289 1 524 1 504 1 444 1 362

    o/w Nissan 56 497 1 335 1 705 1 767 2 275 1 871 1 288 345 -902 1 084 1 332 1 234 1 498 1 559o/w Volvo -26 71 175 240 308 384 352 226 -301 214 136 80

    o/w AvtoVAZ -370 -21 49 186 -34 -182Current and deferred taxes -649 -67 -447 -510 -634 -331 -255 -255 -162 -148 -58 -508 -549 -433 -136Group net income 1 074 953 2 010 2 513 3 186 3 453 2 943 2 734 599 -3 068 3 490 2 139 1 735 695 1 998Renault net income 1 080 1 051 1 956 2 480 3 119 3 367 2 869 2 669 571 -3 125 3 420 2 092 1 772 586 1 890EPS 4,5 4,4 7,5 9,3 11,7 13,2 11,2 10,3 2,2 -12,1 12,7 7,7 6,5 2,2 6,9Number of shares 239 798 239 998 259 560 265 960 265 960 255 177 256 994 258 621 256 532 257 514 269 292 272 381 272 256 272 290 273 049

    workforce 166 114 140 417 132 351 130 740 130 573 126 584 128 893 130 179 129 069 121 422 122 615 128 322 127 086 121 807 117 395

    BEFORE IFRS IFRS

  • INVESTOR RELATIONSRENAULT PRESENTATION DECEMBER 2015 81

    CASH FLOW STATEMENT

    PUBLISHED

    IFRSin m 2000* 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014AUTO EBIT 1 467 458 928 858 1 710 1 058 303 767 -608 -1 457 -78 478 -615 -770 389Depreciation & amortization 1 817 1 683 1 938 2 117 2 133 2 658 2 817 2 815 2 892 3 124 3 045 2 820 3 299 3 164 2 702AUTOMOTIVE EBITDA 3 284 2 141 2 866 2 975 3 843 3 716 3 120 3 582 2 284 1 667 2 967 3 298 2 684 2 394 3 091

    Cash flow 3 027 1 290 2 919 2 806 3 798 3 589 3 288 3 616 2 373 1 386 3 074 2 910 2 577 2 914 3 138Change in WC -1 657 1 751 322 239 401 -533 -346 -26 -2 704 2 923 395 627 922 790 596Capex and R&D cost -2 289 -2 546 -2 968 -2 533 -2 823 -2 879 -3 585 -3 565 -3 385 -2 054 -1 644 -2 212 -2 674 -2 543 -2 416

    CAPEX -2 253 -2 497 -2 284 -1 927 -2 035 -2 046 -2 494 -2 278 -2 260 -1 465 -978 -1 325 -1 910 -1 811 -1 571CAPITALIZED R&D -36 -49 -684 -606 -788 -833 -1 091 -1 287 -1 125 -589 -666 -887 -764 -732 -845

    Others 135 -248 -155 -241 -228 -334 -235OPERATIONAL FCF -919 495 273 512 1 376 177 -508 25 -3 716 2 007 1 670 1 084 597 827 1 083

    Dividends received from Nissan 99 183 267 345 383 431 456 418 0 88 274 427 406 432Dividends received from Volvo 0 77 77 208 120 158 477 258 81 0 38 47Dividends received from Daimler 22 27 27 32Dividends received from others excl; RCI 7 6 13 13 3 12 0 0 1 6FCF -912 600 533 856 1 929 693 94 961 -3 028 2 088 1 758 1 419 1 077 1 260 1 547

    DIVIDEND PAID 183 219 258 316 383 493 684 883 1 054 0 0 88 -402 -537 -542

    BEFORE IFRS

  • INVESTOR RELATIONSRENAULT PRESENTATION DECEMBER 2015 82

    -919

    495273

    512

    1377

    177

    -508

    25

    -3716

    20071670

    1084

    597827

    1083738

    -1256

    -49

    273

    845 710

    -162

    51

    -1012 -916

    1275

    457

    -325

    37487

    -4000

    -2000

    0

    2000

    2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

    Operational Free Cash Flow Operational Free Cash Flow excluding WCR evolution

    (million euros)

    A STRONGER FCF MANAGEMENT

  • INVESTOR RELATIONSRENAULT PRESENTATION DECEMBER 2015 83

    8,29,7 10,1

    11,813,6

    15,9

    19,721,2 22,1

    19,416,5

    22,824,6 24,6

    23,224,9

    -2,7

    -4,8-3,9

    -2,5 -1,7

    -1,6

    -2,3 -2,4 -2,1

    -7,9-5,9

    -1,4-0,3

    1,5 1,8 2,1

    1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

    Shareholders' equity

    Automotive Net cash

    AUTOMOTIVE DIVISION FULLY DELEVRAGED

    (billion euros)

    FormerGAAPs

    IFRSGAAPs

  • INVESTOR RELATIONSRENAULT PRESENTATION DECEMBER 2015 84

    RENAULT INVESTORS RELATION CONTACT

    Thierry Huon

    Investor Relations Director

    +33 1 76 84 53 09

    thierry.[email protected]

    Nicolas Chaillan

    Investor Relations

    +33 1 76 83 05 13

    [email protected]

    Clmentine de Quatrebarbes

    Investor Relations

    +33 1 76 84 60 89

    [email protected]

    Investor relations internet site: http://group.renault.com/finance